CGC11 Day 2 Insights: Aavegotchi to Get Alpha V2 Soon, Kryptomon Becomes a $50m Success, and More

CGC11, the main blockchain conference, concluded on August 31st. Just like Day 1, the second day was packed with panel discussions, presentations, and more. Speakers from various Web3 projects expressed their opinions and presented their ideas.

Notably, there were speakers from gDEX Metaverse, Aavegotchi, Kryptomon, and more. Read on to find out what you missed.

Aavegotchi Crypto Pets Need Your ‘Proof-of-Attention’

In the Fireside Chat with Jesse Johnson, the Co-Founder and COO of Aavegotchi, provided amazing insights into crypto pets, a less explored subgenre of NFT games. Johnson talked about Aavegotchi’s creation, Gotchiverse, and the upcoming Alpha v2 at CGC11. 

“We asked the question like how do you build a better crypto pet. And so one of them is Proof-of-Attention - you gotta pet your crypto pet,” explained Johnson when asked about what inspired Aavegotchi.
To add to it, he quickly explained how Aavegotchi works, “For the first time ever if you were to do an on-chain transaction, and basically click the pet button your Aavegotchi will react.”

Aavegotchi has come a long way since its inception. It’s no longer a simple crypto pet P2E game. It has now evolved into a DAO, a metaverse, and more. 

The Gotchiverse Update

Aavegotchi goes beyond just a simple game and pet ghosts. The game has a piggy bank, DeFi protocols, and with Gotchiverse, it’s evolving into a metaverse. 

In March this year, Aavegotchi rolled out ‘Gotchiverse.’ “It was like 50,000 visits to the site in the first 10 minutes that the Gotchiverse went live,” said Johnson. Of course, the Aavegotchi team has a lot planned for their metaverse.

When asked about interoperability, Johnson explained that interoperability was inevitable and they have developed the Aavegotchi 721 bridge. “So for the first time ever, a Polygon native 721 NFT can be bridged back to Ethereum Layer 1. [The] future is multi-chain no doubt; that’s nicely comfortable on Polygon,” said Johnson hinting at interoperability developments. 

New Features & Updates in Alpha v2

Jesse Johnson also talked about the upcoming Aavegotchi Alpha version. 

Here are the highlights:

  • Johnson hinted at a new update called “fake gotchis,” which is a homage to fake rares, the oldest OG NFTs on the Bitcoin network. Holding these cards will make the artist the publisher. Cardholders can choose to collab with other artists and share the royalties.
  • The GBM auction system of Aavegotchi will be built into the marketplace with the upcoming v2 update. 

For context, GBM replaces conventional auctions with a game. Johnson sums up the game pretty well, “You either end up winning the NFT, or getting paid to lose.”

Apart from this, Johnson explained how the Aavegotchi ecosystem is robust with the “curve.” He also hinted that in the future, there might be changes to the DAO.

Panel on Decentralized Games Talks About Multi-Chain Approach and More

cgc11 decentralized games panels

The CGC11 panel on decentralized games had some notable speakers like David Fox, CEO of Double Coconut, Michael Sanders, Co-Founder and Chief Storyteller at Horizon Blockchain Games, Amber Mcgurer, Social and Community Manager of Human Park, and Claudio Cuccovillo, Chief Growth Officer of Kryptomon.

The discussion was moderated by Adam Kling, the CEO at FYX Gaming, and explored important topics like what decentralization means, multi-chain operability, and more.

Here are the highlights:

  • David Fox pointed out that cross-chain functionality was needed for better security and to keep the users happy. He explained this with the Layer 2 and Layer 1 example. Fox said that even though Layer 2 had better speed and lower fees, Layer 1 had stronger security. So users transfer assets to Layer 1. 
  • While Claudio Cuccovillo agreed with Fox, he also noted that the chains matter to developers, and not the end users. He added that as more and more traditional gamers enter the P2E space, the less and less it would matter on which chain the game is based on.
  • Amber McGurer and Michael Sanders were both in favor of a multi-chain ecosystem. McGurer was of the opinion that it was more about alleviating the pain points of players. Lower fees and seamless UI are important to keep the community engaged, and they might not necessarily care about technical aspects. 
  • Adam King counter-argued that several projects run into scalability issues, and to resolve the issues, they compromise on security. Elaborating the point with Axie Infinity, King opined that to address the scalability problem, they compromised on security. “I can say now, after the hack, that they went in and sacrificed security with bridges,” King said.

In any case, all the speakers more or less agreed that the end user may not care about the blockchain that the game’s running on. But when security is breached, users will surely start educating themselves. 

How Kryptomon Made $50 Million in a Year

Kryptomon, the Pokemon-inspired blockchain game, raked in $50 million in a year and made record NFT sales in a bear market. 

Umberto Canessa Cerchi, the Founder and CEO of Kryptomon, shared his secret to Kryptomon’s success in a presentation. 

Here are the highlights: 

  • Cerchi shared that Kryptomon was inspired by Crypto Kitties and its concept of crypto pets, and Pokemon. 
  • He also mentioned that he firmly believes that NFTs are meant for gaming. “You consolidate all the time, all the efforts, and the money that you’re spending in an asset that can be used in and out of the game or it can just be sold,” Cerchi explained.
  • Kryptomon happened to launch when the interest in NFTs was at its peak. “In a month, our community grew up from zero to 20-30 thousand people on Telegram. We collected seventy thousand leads,” Cerchi said. After this overwhelming response, the team decided to start building.
  • The game uses the “build, measure, learn” cycle for the project. The Kryptomon team first gets a feature validated, builds it, and then rolls it out, reducing the risk of failure. This is how Kryptomon had successful NFT sales.
  • Kryptomon has just released an Android version and they’re gearing up for an iOS release. At the time of writing, Kryptomon has practice battles. Soon, players can indulge in PvE, PvP, story mode, and more.

Interestingly, when the first game mechanic was released in December 2021, it wasn’t smooth. “Nothing was working. The servers were down, there were plenty of bugs,” Cerchi laughed. 

On the Flipside

  • As pointed out by Adam King, many successful projects run into scalability problems, and then compromise security to resolve them. Unlike the internet, blockchain is yet to prove itself.

Why You Should Care

Several projects are moving towards interoperability and a multi-chain approach to reduce costs and speed up transactions. More and more traditional gamers are entering the P2E space, and blockchain technology looks less intimidating than before. 

This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed to be financial legal or tax advice. Trading Forex, cryptocurrencies, and CFDs poses a considerable risk of loss

Rate This Article
In order to improve, we give you the opportunity to rate DailyCoin content
Author

Nitisha is a freelance crypto gaming reporter and journalist. Her areas of specialization are Play to Earn, NFT games, GameFi, and blockchain gaming – including, but not limited to – Axie Infinity, Splinterlands, The Sandbox, My Neighbor Alice, and projects under Gala Games and Animoca Brands. Before joining DailyCoin, Nitisha actively worked in video game and esports media outlets and reviewed crypto exchanges. Understanding that it's only a matter of time before blockchain changes the gaming industry, Nitisha began covering P2E games at DailyCoin.